Boston Partners Grows Stake in NetApp, Inc. (NASDAQ:NTAP)

Boston Partners lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 53.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,083,189 shares of the data storage provider's stock after purchasing an additional 729,394 shares during the period. Boston Partners owned 1.02% of NetApp worth $241,867,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Resonant Capital Advisors LLC grew its stake in NetApp by 1.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock valued at $516,000 after buying an additional 80 shares in the last quarter. Larson Financial Group LLC grew its position in shares of NetApp by 2.5% during the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after purchasing an additional 92 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of NetApp by 22.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock valued at $64,000 after purchasing an additional 100 shares in the last quarter. Moors & Cabot Inc. grew its position in shares of NetApp by 3.6% during the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock valued at $337,000 after purchasing an additional 100 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of NetApp by 2.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,597 shares of the data storage provider's stock valued at $534,000 after purchasing an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

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NetApp Trading Up 0.2 %

Shares of NASDAQ:NTAP traded up $0.15 during trading on Friday, reaching $92.25. 5,416,936 shares of the company traded hands, compared to its average volume of 1,746,932. The firm has a market capitalization of $18.76 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 2.45 and a beta of 1.24. NetApp, Inc. has a 52-week low of $89.88 and a 52-week high of $135.45. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The business's fifty day moving average is $112.44 and its 200-day moving average is $118.07.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.25%. NetApp's dividend payout ratio is presently 38.52%.

Analyst Upgrades and Downgrades

NTAP has been the subject of a number of recent analyst reports. Susquehanna lowered shares of NetApp from a "positive" rating to a "neutral" rating and reduced their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Keefe, Bruyette & Woods upgraded shares of NetApp to an "outperform" rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of NetApp from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Wells Fargo & Company reduced their price target on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Finally, Citigroup cut their target price on shares of NetApp from $135.00 to $110.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $129.07.

Insider Activity at NetApp

In related news, CEO George Kurian sold 8,500 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total transaction of $1,011,840.00. Following the completion of the transaction, the chief executive officer now owns 266,765 shares in the company, valued at $31,755,705.60. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 528 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $92.58, for a total value of $48,882.24. Following the completion of the transaction, the executive vice president now owns 12,900 shares of the company's stock, valued at approximately $1,194,282. This trade represents a 3.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,931 shares of company stock worth $6,252,759 over the last quarter. 0.47% of the stock is owned by corporate insiders.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.